{
  "docId": "019dd923-622c-750b-8b97-202fcba3bc0a",
  "docSlug": "4a1cd2416c13",
  "documentTitle": "Joyy Inc. (YY)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson Block",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-11-18 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 9,
  "pageCount": 71,
  "prevPage": 8,
  "nextPage": 10,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 25,
  "notes": "The slide uses a table to quantify identified FUs and a visual case study to demonstrate how the platform incentivizes fake activity.",
  "elementsJson": [
    "data_table",
    "paragraph",
    "screenshot",
    "infographic"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b97-202fcba3bc0a/9",
  "deckHref": "/decks/019dd923-622c-750b-8b97-202fcba3bc0a",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-202fcba3bc0a.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-202fcba3bc0a#slide-9",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Though we have identified that one-quarter of the total number of PUs were connected to YY, it does not mean that three-quarters of PUs and half of gift payments are real.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0394-7243-be92-0afe69eb81f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.3,
        "x": 0.18,
        "y": 0.46
      },
      "kind": "image",
      "text": "Promotion UI screenshot",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e517dda5-4952-4f5a-b20c-0c9f92bca8d6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.27,
        "y": 0.8
      },
      "kind": "image",
      "text": "Platform Angel gift notification",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f7920246-88e3-4b71-9f46-7cafff335676",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.3,
        "x": 0.55,
        "y": 0.48
      },
      "kind": "list",
      "text": "Broadcast tasks and requirements for the Platform Angels program.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "662d3696-df1a-4039-b98b-5dc18a0fda2b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "PU Gifts Sent (RMB): 329,808,517",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0394-7243-be92-0d27b44115e3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.76,
        "x": 0.12,
        "y": 0.39
      },
      "kind": "paragraph",
      "text": "During the National Day holiday in October 2020, YY ran a new promotion called “Platform Angels”. New performers were rewarded with gifts sent by YY-controlled PUs, or “Angels”.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2480b0ca-c8b2-4f74-9963-d721c2b70da7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.76,
        "x": 0.12,
        "y": 0.27
      },
      "kind": "paragraph",
      "text": "Though we have identified that one-quarter of the total number of PUs were connected to YY, it does not mean that three-quarters of PUs and half of gift payments are real.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a16ed3d7-f30c-45c2-8e5b-7b6070662ad3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.76,
        "x": 0.12,
        "y": 0.73
      },
      "kind": "paragraph",
      "text": "The Platform Angels’ gift delivery timing was extremely precise... their precise gift delivery time made them easy to identify.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b2c5f416-0280-4fba-bf21-894da1520cd6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.11,
        "w": 0.76,
        "x": 0.12,
        "y": 0.11
      },
      "kind": "table",
      "text": "Table showing FU types, IDs, gift info, and percentages.",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cdb823e9-fb10-4f54-b943-d00af65cbc64",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.76,
        "x": 0.12,
        "y": 0.35
      },
      "kind": "title",
      "text": "YY Live's Platform Angels Program Shows Only 1 in 3 FUs Can be Spotted by IMEI Sharing",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb1166f9-cf89-4d0c-a4dc-29ede834f94f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.5,
        "x": 0.25,
        "y": 0.09
      },
      "kind": "title",
      "text": "Proportion of YY Live PUs Controlled by YY as Identifiable Through IMEI Sharing",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9ccd9700-6ace-496a-acd5-5c9a3ec8c4d6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "0a6e7a89-c506-44f9-a922-c9ad6f67df44",
      "evidence": "Quantifying fake users via IMEI sharing and behavioral analysis",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 71,
      "from": 4,
      "beatId": "a6d172fd-e615-4921-ab5f-acf82f61ca10",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "The report is filled with expose contradiction beats, revealing discrepancies in YY's reporting",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    },
    {
      "to": 9,
      "from": 7,
      "beatId": "546e0867-13c1-4062-b6b5-42f8b8db7bc6",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Appendix Methodology",
      "beatSlug": null,
      "evidence": "The report provides detailed methodology for data analysis",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}